Ramiro Luis Colon III (also known as Ramiro Luis Colon Ortiz III) of Miami Florida a stockbroker formerly registered with UBS Financial Services is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,421,565.59 in damages supported by accusations that Colon failed to supervise municipal bond and closed end fund transactions in the customer’s account between 2011 and 2020. FINRA Arbitration No. 20-03894 (Nov. 24, 2020).

FINRA Public Disclosure shows that Colon has been identified in 42 more customer initiated investment related disputes regarding allegations of his wrongful actions while employed by securities broker dealers including UBS Financial Services. Colon is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $380,000.00 in damages founded on accusations of misrepresentations relating to closed end funds during the period that Colon was associated with UBS Financial Services. FINRA Arbitration No. 15-02464 (Aug. 24, 2018). The claim alleges overconcentration and unsuitability.

On September 23, 2019, another customer initiated investment related FINRA securities arbitration claim regarding Colon’s conduct was settled for $2,450,000.00 in damages based upon allegations of the failure to supervise on the part of UBS Financial Services in regard to municipal bond and closed end fund trades from 2006 to 2017. FINRA Arbitration No. 17-03472.

Colon is referenced in a different customer initiated investment related FINRA securities arbitration claim where the customer was awarded $150,000.00 in damages based on UBS Financial Services being found liable on the customer’s claims of negligence and fraud as it pertained to investments in Puerto Rico closed end bond funds and Puerto Rico bonds. FINRA Arbitration No. 18-02391 (Nov. 25, 2019). The claim alleges violation of federal securities laws including Securities Exchange Act of 1934 and Securities Act of 1933.

Colon is also the subject of a customer initiated investment related written complaint on May 5, 2020 in which the customer sought compensatory damages supported by accusations that between March 9, 2020 and March 27, 2020, the customer had been placed into risky investments that were unable to be timely liquidated.

On January 5, 2021, another customer initiated investment related FINRA securities arbitration claim involving Colon’s conduct was resolved for $105,000.00 in damages founded on allegations of Colon’s failure to supervise as branch manager resulting in inappropriate Puerto Rico bonds and closed end funds for the customer’s account at UBS Financial Services. FINRA Arbitration No. 19-01818.

Colon’s stockbroker and investment adviser registrations with UBS Financial Services were terminated as of May 28, 2021. Colon has been registered with ACP Securities LLC since July 2, 2021.

Tags: ,

Comments are closed.